“This was a unique transaction due to the AAA credit-rated lease to the County of San Mateo, and the fact that the property is a single-tenant Bay Area medical office building with only 3.25 years remaining on the current lease,” Smelter said in a press release.

Currently, the County of San Mateo operates the building as the San Mateo Coastside Clinic, which offers primary care, women’s health, family planning, OB/GYN, mental health, behavioral health rehabilitation, nutrition, STD/STI screening and therapy, a woman, infants and children program, among other things.

Montecito Purchases Clinic in Albuquerque, New Mexico

Nashville-based Montecito Medical Real Estate recently acquired the newly constructed, 85,000-square-foot, two-story DaVita Medical Group clinic in Albuquerque, New Mexico. DaVita Medical Group is one of the region’s biggest multi-specialty medical groups and is a division of DaVita, Inc., a leading provider of kidney-care services in the United States.

The clinic has a radiology department with state-of-the-art ultrasound, MRI and CT imaging equipment. The clinic also houses specialty providers such as neurologists, pediatricians, dermatologists, podiatrists, radiologists and rheumatologists.

The multi-specialty outpatient surgical center is 100% leased to TCOM. Stage acquired the building from TCOM’s physician owners in a sale-leaseback transaction. The financing was provided by MB Financial.